There is a common misconception that personal data lacks value. People think that a business knowing how many times an item was purchased on eBay or how many times an item was searched for is insignificant information but what some people fail to realize is: no matter how small the data is, it is valuable.

For example, if you purchased videogames on Etsy and used PayPal to pay for them. The purchase of games you made showcases many things about you. First, it shows you possibly like videogames or someone in your life likes games and you like to shop on Etsy.  This information can be used to advertise more games to you as well as other items on Etsy. You also can get additional information from this purchase such as knowing the type of genre of the games you purchased tells a lot about you and your character.

Another example of the value of your information can be illustrated from rewards programs.  Rewards programs provide discounts and points in exchange for your data. These programs build detailed profiles about you.  Say you go to Starbucks and your favorite drinks are a Kiwi Refresher and Caramel Mocha. Based on using the rewards program they know which drinks you drink the most, between what times you visit Starbucks, the average you spend and more.

Even though we are experiencing an economic downturn the one thing that has not changed is the value of our data. Companies like PayPal are developing new ways to capitalize off the data they have on consumers. Recently, PayPal announced it will be starting an advertising business and it will use the data they have collected from customers who used their services to pay for purchases.

Your online purchases and searches may be insignificant to you but they hold great value. An example of this can be seen in a persona profile I built out on Princess Toadstool. Based on a few bits of information I was able to build out a comprehensive profile even breaking down what colors would resonate with her.

In this era of biometrics, incorporating voice commands, thumbprint scans, and facial recognition, comprehensive biometric profiles are being developed. Recognizing the significance of data is crucial, given the considerable efforts involved in collecting, storing, and monetizing it. The bottom line, assuming your data is insignificant does not mean it is.